I don't think i would say it's outstanding but thanks anyways. Looking back on it, i noticed some thing that were unnecessary and might have been confusing so i took them out. Here is a revised version. Good luck with it.
$bookno = 'FL299A';
$handle = array('A' => 'Alpha', 'B' => 'Bravo', 'C' => 'Charlie'); // handle array
preg_match('[\d\w+]', $bookno, $match); // get string without prefix and assign to match
$tempbook = $match[0];
$char = substr($tempbook, -1); // get last character (A, B, C, etc.)
$tempbook = substr($tempbook, 0, -1); // strip the last chacter
$newbookno = $tempbook . $handle[$char]; // add handle
print $newbookno;
EDIT: Yet another edit. Sorry but it keeps getting shorter.
$bookno = 'FL299B';
$handle = array('A' => 'Alpha', 'B' => 'Bravo', 'C' => 'Charlie'); // handle array
preg_match('[\d\w+]', $bookno, $match); // get string without prefix and assign to match
$tempbook = $match[0];
list($tempbook, $char) = sscanf($tempbook, "%d %s"); // split numeric and alphabetical values, assign them into variables
$newbookno = $tempbook . $handle[$char]; // add handle
print $newbookno;